Losing a Job: Ten Things You Can Do to Make It Less Painful, Part 2 — NMBankruptcyBlog.com

Unemployment rates continue to frighten most anyone who is watching. People are losing jobs, and it can be horribly difficult to find a new one, especially one that approaches the salary and benefits of an earlier one. Times are different and they are difficult.

One of my favorite legal self-help publishers has an article I’m running in a series, on Tuesday 1/19, 1/26, 2/2, and 2/9.

Ways to keep a job loss from becoming a financial disaster, Part 2.

7. Consider getting a roommate. If you have the space, a short-term roommate can help mitigate the cost of your mortgage or rent. You might also consider a part-time roommate, someone who commutes from afar and needs a bed only a few nights a week.

8. Take on odd or part-time jobs while you search. House-sit, walk dogs, or be a companion for an older person. These and other part-time, low-commitment jobs can offer immediate income while allowing you time to conduct your search for a new job in your field.

9. Don’t use credit cards (unless you absolutely have to). One major risk of unemployment is spiraling debt. Credit card debt is notoriously difficult to get out of and should be avoided. Do everything you can to avoid getting into, or deeper into, any kind of debt.

10. Don’t lose heart. Remember, millions of others have faced a job loss and lived to tell about it. Many successful people have lost their jobs, only to go on to better things. And losing an income is not a reflection on your worth as a person, or even on the quality of your work. With the right attitude, you can use this opportunity to take a step back and consider new directions that may well prove to be more rewarding both personally and financially.

Whether you choose to do all or just some of the above, you’ll be taking important and useful steps to manage your finances during this difficult time.

Reprinted with permission from the publisher, Nolo, Copyright 2009,Nolo